(Spencer)– A joint venture involving the Clay County Fair Association, Spencer Economic Development Corporation, or SEDC, and the city of Spencer will support a housing project in that city stemming from the historic 2024 flood.
Under the agreement, SEDC is acquiring residential lots owned by the Clay County Fair Association. The lots are on the east edge of the Silver Lot and will include all Fair-owned property east of 3rd Avenue West. Fair officials say the majority of the Silver Lot will remain under the ownership of the Clay County Fair Association and that fairgoers and vendors will continue to have access to the lot for the 2026 Clay County Fair and future fairs. They add the pending transaction will NOT impact Fair operations or parking availability.
The project is pending approval of Community Development Block Grant Disaster Recovery Funds and would be done at no cost to the city. It would be facilitated by the SEDC with the city administering the program.
The project would include construction of nine single-family, one-unit homes intended for occupancy by low- or moderate-income households.
